Outdoor Lighting Fixture Market Size, Share, Growth, And Industry Analysis, By Type (Incandescent, Halogen, Light-Emitting Plasma, Fluorescent, LED & OLED), By Application (Highways and Roadways, City Parks and Public Areas, Commercial Site Lighting, Parking Lots, University and College Campuses, Post Top Colonial, Surface Mount, or Architectural Sconce Areas), Regional Insights, and Forecast From 2024 To 2031

Outdoor Lighting Fixture Market Report Overview

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The global outdoor lighting fixture Market size was USD 13781.27 million in 2021 and is expected to reach USD 25169.04 million in 2031, at a CAGR of 6.21% during the forecast period.

Outdoor lighting refers to the use of outdoor lighting in private gardens and public landscapes to improve safety, nighttime beauty, accessibility, protection, recreation, and sport, as well as for social and event use. Many distinct professional disciplines have been made more visible by outdoor lighting. Retail, advertising, and other sectors depend on exterior luminaires to brighten their operations. For added security, facilities and equipment rely on outdoor lighting, whilst customers need everything from decorative outdoor furniture to landscape lighting to complete their outdoor design. In order to enhance the appearance of homes and increase nighttime safety, exterior lights are a superb addition, regardless of the purpose or business.

The need for highly energy-efficient lighting systems with low maintenance costs, the growth in infrastructure and construction projects, the demand for energy-efficient lighting systems, and the modernization and growth of infrastructure, such as smart cities, are a few of the main factors influencing the market for outdoor LED lighting. These factors result in the adoption of lighting systems based on loT, a decrease in the price of LEDs, and a rise in the use of LEDs as a light source in outdoor lighting applications such as in buildings, on roads, and in public spaces.

COVID-19 hampered the production of different forms of lighting systems and products as well as the export of raw materials.

The global COVID-19 pandemic has been unprecedented and staggering, with Outdoor Lighting Fixture Market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic has had a major impact on the outdoor lighting fixture market growth. China is the biggest supplier of raw materials and a manufacturer of lighting goods, and COVID-19 affected both the manufacture of various lighting systems and goods as well as the export of raw materials from China to other nations. Moreover, a number of countries placed restrictions on transporting from one state or country to another, which had an effect on the tourism and hospitality sectors and a negative impact on the market. The worldwide construction sector was severely harmed by the closing of construction sites and the return of workers to their hometowns. As a result, fewer lights were installed in outdoor spaces, which was made worse by China's restricted importation of raw materials and electrical and electronic components to the lighting industry. Furthermore, with less money in their pockets, residents, companies, and manufacturers were less willing to maintain or improve their external lighting systems.

Latest Trends

"Projects for smart lighting are growing in number in several nations. "

As the globe transitions from more antiquated technologies to new, more automated, and energy-efficient ones, the number of buildings, roadways, and intelligent infrastructure is also increasing. Projects for smart lighting are growing in number in several nations. In view of the growing population and pollution, it is necessary to use environmentally friendly and energy-efficient lighting techniques. As infrastructure continues to advance, there is a growing need for streets, alleyways, and highways. Governments are looking for sustainable and environmentally friendly lighting solutions for these assets. The demand for outdoor lighting has significantly increased as the usage of LED and solar-powered lights spread throughout the world.

Outdoor Lighting Fixture Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Incandescent, Halogen, Light-Emitting Plasma, Fluorescent, LED & OLED.

• By Application Analysis

Based on application, the market can be divided into Highways and Roadways, City Parks and Public Areas, Commercial Site Lighting, Parking Lots, University and College Campuses, Post Top Colonial, Surface Mount, or Architectural Sconce Areas.

Driving Factors

"LED lights are energy-efficient and utilizing them contributes to a global decline in energy consumption."

The world over, LEDs are the greatest alternative for illumination. They are less expensive than more conventional alternatives like halogen and fluorescent lighting. Since LED lights have a longer lifespan of roughly 50,000 hours and are not extremely bright, there is no eye irritation. Since LED lights are also energy-efficient, utilizing them contributes to a global decline in energy consumption. Among the places where LED lighting is used are warehouses, homes, businesses, and governmental structures. In cities, towns, and villages all over the world, electricity is mostly utilized to light the streets and other public areas. The key to energy and cost efficiency in all lighting applications is a paradigm shift away from conventional lighting systems and toward linked LED technology. Such a solution is sorely required given the present energy crisis the globe is experiencing. Sales of LED lights are increasing as a result of all these causes, and numerous manufacturers are making investments in this sector.

"The use of solar-powered lights is becoming popular."

Street lights, followed by highway lighting, and another lighting for infrastructure, make up the majority of the outdoor lighting fixture market. The dangers of poorly illuminated roadways that can result in accidents make the street lights vital. In the same way, highways and other roadways. Cities need outside lighting because nightlife has changed as a result of shifting lifestyles. To experience the complete opposite of the hectic, busy daytime, people have started exploring and taking long drives or journeys at night.

Solar-powered outdoor lighting is becoming more and more popular as a sustainable and cost-effective lighting option. Governments in numerous nations are awarding contracts to businesses for the production and installation of solar lights in any location that is required. The outdoor lighting industry is growing as a result of all these developments.

Restraining Factors

"Complex purchasing decisions in the lighting industry can cause restraint in market growth."

During the projection period, complex purchasing decisions in the lighting fixtures industry are anticipated to restrain the market growth. Although a variety of professions, including architects, lighting designers, and electrical engineers, are involved, end users do not alone make the decision to purchase lighting fixtures. The purchase process has become more complicated as a result of the engagement of several professionals, which is in turn limiting the market's expansion for lighting fixtures. As a result, these factors are anticipated to limit market growth during the forecast period.

Outdoor Lighting Fixture Market Regional Insights

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"Increasing Disposable Income to Foster Growth in North America"

Due to the establishment of different energy-efficient product standards by local government bodies, North America has dominated the outdoor lighting fixture market share and will do so for the duration of the projection period. Additionally, growing disposable income in nations like the U.S. will support the need for outdoor lighting for architectural purposes, supporting the expansion of the outdoor lighting fixture market in this region.

Geographically, the outdoor lighting fixture market in 2020 was most profitable in Asia-Pacific (APAC). The installation of intelligent LED lighting systems in the area and the proliferation of government activities in this area are credited with this. A growing number of smart city initiatives in nations like China, India, and South Korea are expected to help the region maintain its market dominance in the years to come.

Key Industry Players

"Companies want to invest due to the demand for cut-costing lights."

Worldwide nations are building roads and highways quickly, which is boosting the need for lights. Smart lights, which turn on and off automatically and regulate their intensity, are being used to cut costs. Due to their frequent use on roads, parking lots, airports, jogging trails, bridges, and roadways in village squares, most outdoor lights are purchased through direct sales channels.

LIST OF TOP OUTDOOR LIGHTING FIXTURE COMPANIES

• Dialight plc
• OEO Energy Solutions
• Legrand/Wattstopper
• Lutron Electronics
• SYSKA LED
• Panasonic Corporation
• Acuity
• Telensa
• Philips
• Hubbell Lighting, Inc
• Zumtobel Group AG
• Schneider Electric S.E
• Echelon
• Cree
• Eaton Corporation
• Honeywell International
• Johnson Controls
• Nichia Corporation
• GE Lighting
• Siemens
• Greenvity
• Illuminating Concepts
• Econolite
• Xylem Inc
• Sierra Wireless
• Flashnet
• Everlight Electronics Co., Ltd.
• OSRAM
• Genesys
• Leotek

Report Coverage

The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment markets by type, application and region, and, as a result, provides a holistic view of, as well as a deep insight into the Outdoor Lighting Fixture market covering all its essential aspects.